Perpetual Industries Announces Grant Awarded to Trine University to Fund Research and Development of Its Windsilo Turbine

Rhea-AI Summary

Perpetual Industries Inc. (OTC PINK:PRPI) announced a $50,000 grant awarded to Trine University by the Indiana Economic Development Corporation. This funding will aid in the development of the proprietary vertical axis wind turbine, The Windsilo. A portion of the grant will support engineering and technical efforts necessary to finalize the production prototype. CEO Brent W. Bedford highlighted the collaboration as an opportunity to leverage Trine's expertise in bringing the innovative green energy product to market.

Positive

• Award of a $50,000 grant enhances funding for The Windsilo development.
• Collaboration with Trine University provides expert engineering support.

Negative

• None.

AUBURN, IN / ACCESSWIRE / November 9, 2020 / Perpetual Industries Inc. (OTC PINK:PRPI) ("Perpetual" or the "Company") is pleased to announce that Trine University, a private post-secondary institution located in Angola, Indiana, has been awarded a grant through its ‘Innovation1' department from the Indiana Economic Development Corporation's Innovation Voucher Program to assist Perpetual Industries in the development of its proprietary vertical axis wind turbine called "The Windsilo".

A portion of the $50,000 grant will be used by ‘Innovation1' to fund engineering and technical expertise in collaboration with the research and development (R&D) team at Perpetual to finalize the production prototype of its Windsilo product.

"We are very excited and honored to have the world class engineering team at Trine University assisting us in this project. Innovation1 will provide unparalleled expertise to help us finalize our Windsilo design, allowing us to bring this very innovative green energy product to market." stated Brent W. Bedford, CEO of Perpetual Industries Inc.

The grant was provided by the IEDC's Innovation Voucher program that awards grants to Universities who partner with qualified Indiana-based companies to assist with research, technology development, or commercialization activities.

For more information on Trine University and the Innovation1 program, please visit:
https://www.trine.edu/innovation-one/index.aspx

For more information on Perpetual Industries and the Windsilo, please visit:
https://www.perpetualindustries.com/windsilo.html

About Perpetual Industries Inc.
Incorporated in Nevada and based in Auburn, Indiana, Perpetual Industries Inc. (OTCMARKETS:PRPI) is an incubator for the development of new and innovative energy efficient technologies. Our mission is to ‘perpetuate industry' by bringing value-added technologies to market. At the company's core is a proprietary technology known as The XYO Mechanical Balancing Technology, designed specifically to dynamically eliminate vibration in rotating equipment to create energy efficient, environmentally responsible products. We are expanding our expertise and knowledge of energy efficient technology by developing low cost, green energy powered solutions for a variety of industries including renewable energy, blockchain mining, artificial intelligence, graphic rendering, internet of things (IoT), and cloud computing while continuing our research, development, and commercialization of the XYO Technology in key applications.

About Trine University
Trine University, an internationally recognized, private, co-educational, residential institution, offers associate's, bachelor's, master's and doctoral degrees in the Allen School of Engineering & Computing, Ketner School of Business, College of Graduate and Professional Studies, College of Health Professions, Franks School of Education, Jannen School of Arts & Sciences and Rinker-Ross School of Health Sciences. Trine is a member of the Michigan Intercollegiate Athletic Association and offers 36 intercollegiate sports, 27 of which compete in NCAA Division III. Its golf program includes the university-owned 18-hole championship Zollner Golf Course. Founded in 1884 and accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools (www.ncahigherlearningcommission.org), Trine operates a 450-acre main campus in Angola, Indiana, and the College of Health Professions in Fort Wayne, with programs available worldwide through TrineOnline.

Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995 and "forward-looking information" as such ‎term is ‎defined in applicable US and Canadian securities legislation. The words "may", "would", "could", ‎‎"should", "potential", ‎‎"will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and ‎similar expressions as they relate ‎to the Company. Such statements reflect the ‎Company's current views and intentions with respect to future ‎events, and current information ‎available to the Company, and are subject to certain risks, uncertainties and ‎assumptions, including, ‎without limitation: the conditions to closing of the transaction being satisfied, including obtaining all necessary approvals for the transaction. Should any factor affect the Company in an unexpected manner, ‎or should assumptions underlying the forward-‎looking information or statements prove incorrect, the actual ‎results or events may differ materially from the results or events ‎predicted. Any such forward-‎looking information or statement is expressly qualified in its entirety by this cautionary statement. ‎Moreover, the ‎Company does not assume responsibility for the accuracy or completeness of such forward-looking ‎‎information or statement. The forward-looking information and/or statements included in this press release is made as of the date of ‎this press ‎release and the Company undertakes no obligation to publicly update or revise any ‎forward-looking information, ‎other than as required by applicable law.

For media, press inquiries, and further information, please contact:
Carl Dilley, Chief Operating Officer
Perpetual Industries Inc.
Phone: 702-707-9811
Email: info@perptualindustries.com

SOURCE: Perpetual Industries, Inc.

View source version on accesswire.com:
https://www.accesswire.com/615364/Perpetual-Industries-Announces-Grant-Awarded-to-Trine-University-to-Fund-Research-and-Development-of-Its-Windsilo-Turbine

FAQ

What is the recent grant awarded to Perpetual Industries related to?

The grant is intended for the development of Perpetual's vertical axis wind turbine, The Windsilo.

Who is providing the $50,000 grant to Perpetual Industries?

The grant is awarded by the Indiana Economic Development Corporation through Trine University's Innovation Voucher Program.

How will the grant help Perpetual Industries?

The grant will fund engineering and technical expertise for finalizing the production prototype of The Windsilo.

What is the stock symbol for Perpetual Industries?

The stock symbol for Perpetual Industries is PRPI.